Bearish below 12250, potential rally to a sell zone 12100-12200 is interesting.
Yesterday we took out a Point of Control (POC) from the 11th August and price made a lower low as it continued the technical downtrend. The trend defining high is currently around 12250, so we are looking for selling spots below that level. The overall target zone is in the 11700-11850 zone. That offers a swing trading opportunity with a 4:1+ ratio.Wave traders are looking at the most recent highs as a
The broken triangle (centre bottom) underside is yet to be tested to see if the previous support becomes resistance. That’s an interesting spot for selling. Price action is currently trading around a 50% retracement from the last triangle resistance, to the low from yesterday. We also spotted a doji on the 240minute chart, suggesting a potential balance point and offering a target of around 12105 for a bullish extension from current levels. I’m watching that level.
Value Area High – 11960
Point of Control – 11944
Val Area Low – 11880
Wave traders are looking at the most recent highs as the 4th wave, adding weight to another leg down towards 11700.
I did some maintenance on the crypto portfolio yesterday:
I used some of my profit dollars to buy more ripple and I now own around 1000 coins with another 1150 on order at a lower price.
I was contemplating buying ethereum the other day at around 330 dollars, but decided it was too expensive given the rally and perhaps I would wait until it retraced to 275. But.. it didn’t. I missed that one.
Balance: $460 (originally $125)